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NAIC Elects New Officers for 2025
At the conclusion of its fall national meeting in Denver, the National Association of Insurance Commissioners elected new officers for 2025, with North Dakota Insurance Commissioner Jon Godfread to become president. Godfread was first elected commissioner of the Peace Garden …
POSTED NOVEMBER 22, 2024 6:13 AM |
CIAB: All Commercial Lines See Lower Q3 Premium Increases Except Umbrella
Respondents of a recent survey reported lower premium increases for all lines of business except umbrella during the third quarter. According to The Council of Insurance Agents & Brokers (CIAB) quarterly survey, commercial property/casualty premiums across all account sizes rose …
POSTED NOVEMBER 22, 2024 6:06 AM |
US Charges Five in ‘Scattered Spider’ Hacking Scheme
U.S. prosecutors unveiled criminal charges on Wednesday against five alleged members of Scattered Spider, a loose-knit community of hackers suspected of breaking into dozens of U.S. companies to steal confidential information and cryptocurrency. Martin Estrada, the U.S. Attorney in Los …
POSTED NOVEMBER 22, 2024 6:04 AM |
Florida Citizens’ Brass Tired of ‘Clickbait’ News on its Hurricane Claims Denials
Officials with Florida’s Citizens Property Insurance Corp. took issue Thursday with a number of national and Florida news reports that have suggested that the insurer has the “worst rate” on paying claims after recent hurricanes. “That’s just not accurate,” Citizens …
POSTED NOVEMBER 22, 2024 6:01 AM |
Forget Driverless Cars. Here Come Unmanned Helicopters for Firefighting, Crop Protection.
When Hector Xu was learning to fly a helicopter in college, he recalled having a few “nasty experiences” while trying to navigate at night. The heart-stopping flights led to his research of unmanned aircraft systems while getting his doctorate degree …
POSTED NOVEMBER 22, 2024 6:00 AM |
Commercial Lines Profit Growth: Execution Matters More Than Portfolio Mix
It is “how” commercial lines carriers execute their underwriting strategies, not “what” lines they write that is key to profitable growth for top performers, according to new research from McKinsey. A section of the consulting firm’s recently published “Global Insurance …
POSTED NOVEMBER 22, 2024 6:00 AM |
New Jersey Bakery Fined $385K After OSHA Says Workers Still Exposed to Hazards
A New Jersey commercial baker in Paterson faces $385,221 in federal penalties after a U.S. Department of Labor investigation found the employer failed to correct workplace safety hazards identified in 2023. The department’s Occupational Safety and Health Administration (OSHA) began …
POSTED NOVEMBER 22, 2024 6:00 AM |
NFP Acquires AnchorGroup in Upstate New York
Global insurance broker NFP announced it has acquired certain assets of EBA Services LLC, which does business as AnchorGroup, an employee benefits brokerage and consultancy located in Skaneateles, New York. AnchorGroup’s Kiehl Hutchings will join NFP as vice president, Benefits, …
POSTED NOVEMBER 22, 2024 6:00 AM |
Clergy Abuse Victim Whose Parents Kicked Him Out Will Use Settlement to Help Others
Duane Gray says the priest at his Connecticut parish began sexually abusing him around 1974, when he was 12 years old. He told his parents, but they didn’t believe it and beat him repeatedly. Then they kicked him out of …
POSTED NOVEMBER 22, 2024 6:00 AM |
Colorado Department of Transportation Report Shows Decline in Dangerous Driving Habits
Highway safety officials in Colorado are seeing a slight decline in a number of dangerous driving practices, such as driving while intoxicated, failing to use seat belts and speeding. A poll by the Colorado Department of Transportation assessed the opinions …
POSTED NOVEMBER 22, 2024 6:00 AM |
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